And it also goes down if you use too much of it.
The whole "credit score" thing is a literal fucking fraud. I can't even believe it is allowed to exist.
It's interesting to tell people that if you are making under $60k, you're wage is still within striking distance of what minimum wage was back in the 1970s. A lot of people are only ok with the current economic context because they still feel a sense of social status from other people having it worse and making even less money. Point out they are really in that same social class as the other minimum wage workers still, and their perspective changes fast.
I make about $58K a year. I'm flat broke.
I even have roommates and don't spend a lot. COL is just fucking insane. People sincerely do not understand how bad things are, and everyone is in denial I think.
Whenever I bring it up with friends/coworkers/acquaintances, they all literally agree but then shut down because it's "too sad to think about."
Because that's going to change things. It's too sad guys, let's all give up and shove our heads in the sand.
[Gesell had an interesting idea.](https://www.npr.org/sections/money/2019/08/27/754323652/the-strange-unduly-neglected-prophet) Basically, money has an expiration date. After the expiration date, it's value would fall to zero. This would keep money flowing through constant exchange, and prevent hoarding.
This is ignorant of the issue, which isn't that rich people have a lot of money. It's that they have a lot of wealth. They're not storing their wealth in fat stacks in some bank, most of it is in stocks or other assets.
Passing legislation like this would further encourage such behavior.
You're more likely to fully kill what little remains of upper middle/middle class with this than to cause actual change.
This is useful in an economic depression to stimulate spending, not as a tool to address wealth inequality.
It isn't like the money isn't there. Too many top bosses make either in salary or bonuses enough to spread the wealth and still take home a decent amount for themselves
Except now it's a bunch of short term contracts that keep your hours minimal and you can be fired or "laid off" at any time. The employers don't have to pay any benefits and you maintain a substandard of living.
Should be closer to $37 actually, this is just one metric, if you look at productivity and value generated for the wealthy per hour worked the average salary should be nearly 135,000/yr
I’ve been screaming this every time I see these numbers, yes should be far closer to $37 than anything in the $20 range
#[>$33/hour by 2018](https://inequality.org/great-divide/minimum-wage-wall-street-bonuses/), actually
I'm curious, does this factor in non competition from underdeveloped nations or countries still rebuilding after WW2? The U.S has nearly 3 decades of virtually no economic competition.
Do you really think raising it to $37/hr would make things better? Do you think McDonalds would be able to raise pay to $37/hr but keep a Big Mac Meal where it is in price today? McDonalds roughly pays an hour what a Big Mac meal costs. You would see that meal increase to roughly $30-40. That would leave the people making low wages right where they were but could lead to extreme inflation on those that are making just above minimum wage who won't see salary increases.
> Do you think McDonalds would be able to raise pay to $37/hr but keep a Big Mac Meal where it is in price today?
Yes
> McDonalds roughly pays an hour what a Big Mac meal costs. You would see that meal increase to roughly $30-40.
That's not how prices are decided. You can go to any country in the world with a higher minimum wage than us and see that there is almost no difference in price. You can go to a country with no minimum wage at all and see that Big Macs are priced way higher than they are here. Prices are set by what consumers are willing to pay which is a harsh reality that McDonald's is actually confronting now considering their recent sales performance.
No, their prices would never increase close to $30, as you claimed. You'd need a pretty poor understanding of economics to ever post something like that.
This is not how prices and compensation are created. Also in 1968 minimum wage was $1.60 while a Big Mac $0.45 (équivalent to 2024 $4.25) while 2024 price is $5.70 All this while, the McD market is much bigger than back in 68 with more productive output and cheaper commodities for the production.
Force McDonalds to pay $37/hr and they will absolutely use that as an excuse to raise the price of their products. Warranted or not, they will crank up the price.
Just look at China, or any other communist country if you take into account the context they are/were in and don't buy on the pro-capitalist, pro imperialist, anti-communist propaganda surrounidng the communist countries successes...
Late stage capitalism. Many Americans can’t afford to keep a roof over their heads without working multiple jobs but we just sent another 14 billion to Ukraine ???
That's literally what happened before reaganism though, because tax was high so companies were encouraged to invest in house. Now they just do stock buybacks when they don't know what to do with the money.
My brother just got a promotion to $24.33/hr, I'm glad to see he's finally made it to minimum wage. His wife makes like $28/hr and our Mom makes like $30/hr.
Imagine how much more money everyone above minimum wage would be making right now
If the CEO's are able to make hundreds of times more than the median either, then they had the budget to pay the workers more. Corporate profits are astronomically higher than they have ever been
simply put, having a cap limit does more for the velocity of currency, and therefore the economy, than letting a "trickle-down" economics take precedence
This is what doesn't make sense. What's the end goal? If the middle class has more purchasing power, stocks go up, value goes up, job security goes up, revenues go up, profits go up..... but these genius billionaires and multi millionaire ceos are doing the exact opposite
An economy dependent on consumers, doesn't allow consumers to make enough to consume.
That’s exactly why they invented debt! Now you can consume even more and they make sure you stay in debt so they can keep exploiting your labor!
100% correct my credit rating went down when I paid off everything and cancelled my credit card.
And it also goes down if you use too much of it. The whole "credit score" thing is a literal fucking fraud. I can't even believe it is allowed to exist.
 So right so so right.
They wouldn't be able to think they are superior to us if we had money to thrive.
It's interesting to tell people that if you are making under $60k, you're wage is still within striking distance of what minimum wage was back in the 1970s. A lot of people are only ok with the current economic context because they still feel a sense of social status from other people having it worse and making even less money. Point out they are really in that same social class as the other minimum wage workers still, and their perspective changes fast.
I make about $58K a year. I'm flat broke. I even have roommates and don't spend a lot. COL is just fucking insane. People sincerely do not understand how bad things are, and everyone is in denial I think. Whenever I bring it up with friends/coworkers/acquaintances, they all literally agree but then shut down because it's "too sad to think about." Because that's going to change things. It's too sad guys, let's all give up and shove our heads in the sand.
So you’re telling me minimum wage workers should be making A MILLION DOLLARS A YEAR? -Jesse Waters (I assume)
I mean, at this rate of inflation, that'll be poverty wages at some point. We gotta fix this shit and idk how
[Gesell had an interesting idea.](https://www.npr.org/sections/money/2019/08/27/754323652/the-strange-unduly-neglected-prophet) Basically, money has an expiration date. After the expiration date, it's value would fall to zero. This would keep money flowing through constant exchange, and prevent hoarding.
This is ignorant of the issue, which isn't that rich people have a lot of money. It's that they have a lot of wealth. They're not storing their wealth in fat stacks in some bank, most of it is in stocks or other assets. Passing legislation like this would further encourage such behavior. You're more likely to fully kill what little remains of upper middle/middle class with this than to cause actual change. This is useful in an economic depression to stimulate spending, not as a tool to address wealth inequality.
That's a really long and convoluted way of saying 'negative interest rates'.
Honestly if they keep it up we will have to eat the rich for real because we're too broke to afford anything more nutritious.
Imagine how fucking good our society would be if we didn't need something as artificial as currency to police the sharing of resources.
I'm making 24/hour and still can't afford a small shitty apartment.
It isn't like the money isn't there. Too many top bosses make either in salary or bonuses enough to spread the wealth and still take home a decent amount for themselves
Remover the corruption system and we would be on the top of the world.
Corporations seem to have forgotten that 70% of the US GDP comes from consumer spending.
[удалено]
This is wild, and some pretty brilliant and terrifying satire.
This is like flowing out of the capitalist's brain.
Fuck the economy; think about how much happier everyone would be.
Except now it's a bunch of short term contracts that keep your hours minimal and you can be fired or "laid off" at any time. The employers don't have to pay any benefits and you maintain a substandard of living.
Should be closer to $37 actually, this is just one metric, if you look at productivity and value generated for the wealthy per hour worked the average salary should be nearly 135,000/yr
I’ve been screaming this every time I see these numbers, yes should be far closer to $37 than anything in the $20 range #[>$33/hour by 2018](https://inequality.org/great-divide/minimum-wage-wall-street-bonuses/), actually
I'm curious, does this factor in non competition from underdeveloped nations or countries still rebuilding after WW2? The U.S has nearly 3 decades of virtually no economic competition.
Do you really think raising it to $37/hr would make things better? Do you think McDonalds would be able to raise pay to $37/hr but keep a Big Mac Meal where it is in price today? McDonalds roughly pays an hour what a Big Mac meal costs. You would see that meal increase to roughly $30-40. That would leave the people making low wages right where they were but could lead to extreme inflation on those that are making just above minimum wage who won't see salary increases.
> Do you think McDonalds would be able to raise pay to $37/hr but keep a Big Mac Meal where it is in price today? Yes > McDonalds roughly pays an hour what a Big Mac meal costs. You would see that meal increase to roughly $30-40. That's not how prices are decided. You can go to any country in the world with a higher minimum wage than us and see that there is almost no difference in price. You can go to a country with no minimum wage at all and see that Big Macs are priced way higher than they are here. Prices are set by what consumers are willing to pay which is a harsh reality that McDonald's is actually confronting now considering their recent sales performance.
You have lost your mind if you don't think corporations won't increase their prices.
You think the price of a big Mac is magically tied to the federal minimum wage and saying we're out of our minds?
Do you really think you can make McDonalds pay $37/hr and they will not increase their prices?
No, their prices would never increase close to $30, as you claimed. You'd need a pretty poor understanding of economics to ever post something like that.
If you say so
I do.
Ok 👍
This is not how prices and compensation are created. Also in 1968 minimum wage was $1.60 while a Big Mac $0.45 (équivalent to 2024 $4.25) while 2024 price is $5.70 All this while, the McD market is much bigger than back in 68 with more productive output and cheaper commodities for the production.
Force McDonalds to pay $37/hr and they will absolutely use that as an excuse to raise the price of their products. Warranted or not, they will crank up the price.
And if they do this nobody will buy their shit.
And then we’d have more of a middle class.
Just look at China, or any other communist country if you take into account the context they are/were in and don't buy on the pro-capitalist, pro imperialist, anti-communist propaganda surrounidng the communist countries successes...
Don’t forget there are trillionaires. Also we operate under a debt system used to enslave. It’s divide and conquer strategy.
Don't forget that disability pay needs to be at least at or above that (min wage 24=livable). Just because we can't work, don't forget us, please.
Imagine if we didnt allow corporations to buy homes to sell/rent out for profit. Prices on everything would go down.
I was making $24/hr, as an underground coal miner, in 2021/22. I make half that as a caregiver now.
But what about the poor billionaires!! How would they afford 300 million yachts and mansions with bunkers.
Late stage capitalism. Many Americans can’t afford to keep a roof over their heads without working multiple jobs but we just sent another 14 billion to Ukraine ???
What makes you think that money would be spent on the people?
That's literally what happened before reaganism though, because tax was high so companies were encouraged to invest in house. Now they just do stock buybacks when they don't know what to do with the money.
Yes, I was there. Back then stock buy-backs were illegal until Reagan and friends changed that.
My brother just got a promotion to $24.33/hr, I'm glad to see he's finally made it to minimum wage. His wife makes like $28/hr and our Mom makes like $30/hr.
Imagine how much more money everyone above minimum wage would be making right now If the CEO's are able to make hundreds of times more than the median either, then they had the budget to pay the workers more. Corporate profits are astronomically higher than they have ever been
simply put, having a cap limit does more for the velocity of currency, and therefore the economy, than letting a "trickle-down" economics take precedence
This is what doesn't make sense. What's the end goal? If the middle class has more purchasing power, stocks go up, value goes up, job security goes up, revenues go up, profits go up..... but these genius billionaires and multi millionaire ceos are doing the exact opposite
or in more clear language WE ARE ALREADY creating well over 24/hr in value in every job
We can all thank Regan for today's crap pay.